Patrick Stewart shares Rangers transfer budget update after Martin reveal
Rangers are set for an exciting summer, with changes galore already confirmed.
An American consortium, including the 49ers Enterprises and Andrew Cavenagh, has completed its takeover, purchasing a 51 per cent controlling stake in the Govan club.
Russell Martin has been appointed as the new manager to replace interim boss Barry Ferguson, who departed at the end of the season.
The former Southampton man needs to be backed significantly in the transfer market to improve the squad that was left behind by the Gers legend.
Rangers transfer budget will be revealed soon
Martin faces a tough task to turn things around at Ibrox and he will need funding to have any chance of doing so.
Gers CEO Patrick Stewart revealed when the 39-year-old will find out the budget at his disposal to spend on new additions.
Speaking after the ex-Swansea boss was appointed, as quoted by Sky Sports, he said: “The primary investment coming in is going to be put up for approval on 23 June at the AGM.
“We are in discussions with the new ownership about how best to utilise that investment.
“Player trading is a key part of the club’s model going forward, a decent portion will be allocated towards player trading, but we are not going to get into specific amounts right now.”
Martin needs instant backing at Rangers
The appointment has turned heads among the Light Blues fanbase for the wrong reasons, with many concerned about his spell with the Saints.
He refused to abandon his possession-based approach in the Premier League despite a run of 13 losses in 16 matches, and was sacked as a result with his side nine points away from safety.
He was outmuscled financially and in terms of the playing squad, but that should not be the case with the Gers, as they are one of the two dominant teams in Scottish football.
It makes sense that he will not find out the budget until later this month as he needs time to assess the squad, but if a market opportunity comes up before then, the Gers need to act, they cannot afford to sit on their laurels.
The playing squad in Auchenhowie needs major surgery, as many players are not up to standard for the battle with arch-rivals Celtic and others such as Nico Raskin and Hamza Igamane are expected to attract significant interest.
The new majority ownership has plenty of issues to deal with after their takeover was completed, but sorting out the team that steps out onto the pitch might be the most important task at hand now that the managerial situation is resolved.